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Analyse how societal attitudes have been a driving force for change in a contemporary business that you have studied this year - VCE - SSCE Business Management - Question 6 - 2020 - Paper 1
Question 6
Analyse how societal attitudes have been a driving force for change in a contemporary business that you have studied this year. Outline how two of the restraining f... show full transcript
Worked Solution & Example Answer:Analyse how societal attitudes have been a driving force for change in a contemporary business that you have studied this year - VCE - SSCE Business Management - Question 6 - 2020 - Paper 1
Step 1
Analyse how societal attitudes have been a driving force for change
Answer
Societal attitudes play a significant role in driving change within contemporary businesses. For instance, during the Covid-19 pandemic, businesses like Woolworths had to adapt quickly to changes in consumer behavior and expectations regarding safety, hygiene, and access to essential goods.
Consumers increasingly prioritized cleanliness, safety measures, and sustainable practices in their shopping habits. This forced Woolworths, under the leadership of CEO Brad Banducci, to implement new measures such as increased sanitation procedures, limiting the number of goods per purchase, and managing stock levels carefully to meet societal demands. As a result, societal attitudes not only led the business to rethink its operational strategies but also shaped its long-term approach to customer service and engagement.
Step 2
Outline how two of the restraining forces in business listed below might influence Manitta Mining’s ability to successfully introduce change to business operations in the future
Answer
Restraining force 1: legislation Legislation is a critical restraining force that can significantly influence Manitta Mining’s operations. Government regulations may impose strict guidelines on environmental protection, operational safety, and employment practices. For instance, any new laws introduced to limit mining activities for environmental conservation could hinder Manitta Mining’s ability to expand or modify its operations, potentially reducing profitability and growth prospects.
Restraining force 2: financial considerations Financial considerations can also pose a limiting factor in implementing change at Manitta Mining. The need for substantial investment in new machinery or technology can be a barrier, especially if the company struggles with cash flow or access to funding. If significant upgrades are necessary to remain competitive, but the costs outweigh the expected benefits, Manitta Mining may face challenges in executing its change initiatives effectively. Additionally, potential financial constraints may lead to resistance from stakeholders concerned about the impact on profits and shareholder value.